More than 100 professionals from global trade management software company GTKonnect joined EY member firms in the United States and India, EY announced . The transaction is part of EY global trade management services expansion.
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Organizations’ supply chains are operating in a disruptive global trade environment characterized by unprecedented legislative and regulatory changes, increasing talent and cost pressures, and, more recently, the impact of the COVID-19 crisis. This transaction will enhance the ability of EY teams to continue to help provide operational efficiencies to importers and exporters through automation, integration and collaboration services that facilitate the seamless sharing of information.
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EY teams will utilize GTKonnect’s software suite covering many areas, including import/export compliance, master data management, country of origin, free trade agreements, foreign trade zones, tariff classification and reconciliation, to provide broad global trade services to EY clients. GTKonnect enables access to global trade content for 180 countries, offers global trade project management capabilities and helps facilitate collaboration and access to industry expertise.
Kate Barton, EY Global Vice Chair – Tax, says:
“Global trade is undergoing a seismic change as tariff wars, protectionism, regulatory uncertainty and now a pandemic, disrupt established business models and trade relationships. Organizations are struggling to respond and find it increasingly difficult to address their supply chain ecosystems, focus on operational costs and, ultimately, define their medium-to-long-term strategies. We are excited to further expand EY global trade managed service offerings through this strategic transaction.”
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